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Trend following journal

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  • First Post: Dec 20, 2013 9:26pm Dec 20, 2013 9:26pm
I am testing my trend following strategy still on demo and will post my trades test my discipline , patience and consistency in entries and exits. I am going to demo trade for 6 montsh.
Trading signals are on daily time frame so are exits. Each trade is 1% risk.
I am trading 6 pairs: EU, GU,AU,EA GJ and EJ.
Currently I am long GJ, EJ and short EU and GU. Other 2 pairs are neutral for now.
Got stopped on E/U and G/U shorts albeit according to my rules I moved stops as price started moving against me so losses were small. Went long G/U after seeing price drop from today top I closed trade for some 100 pips about what I was risking to cover previous 2 losers. From my previous experience it is good idea to sometimes close weakest profitable trades to cover previous loses to keep account at about BE until I get on big moves. I already have G/J long which looks stronger so I am long GBP anyway.
Still long E/J, E/A, G/J and short A/U. Looking for g/u and e/u further development and watching existing trades.

http://charts.mql5.com/3/435/euraud-...ari-uk-ltd.png

http://charts.mql5.com/3/435/audusd-...ari-uk-ltd.png

http://charts.mql5.com/3/435/eurjpy-...ari-uk-ltd.png

http://charts.mql5.com/3/435/gbpjpy-...ari-uk-ltd.png

all pairs at strong s/r levels on monthly so... everything is possible waiting for next week developments.
I closed another 3 trades for profit and left only Eur/ Jpy long running with stop moved to a small profit. Aud/Usd and Eur/Aud showing double tops/ bottoms at critical levels pretty similar behavior. Closed GBP/JPY too, but depending upon how things turn I might open new trade or two today or later this week. Generally I do not like over sized winning days like Friday was. small and steady means money coming steady. I prefer this very much.
In any case I only open trades when I have signal that trend either continues or reverses. I am not doing speculative trades.
I reentered GBP/JPY long yesterday albeit with smaller size and larger stop, went long Eur/Usd and moved stop to small profit on Eur/ Jpy. Waiting for trigger on Eur/Aud if any so far price is in downward channel on 4H TF. Double top on daily above but trend is still up, so I am waiting.
Have some regret for GBP/USD but overall I am already long GBP vs JPY which is a better runner. Watching Aud/USD too.

http://charts.mql5.com/3/458/gbpjpy-...ari-uk-ltd.png

http://charts.mql5.com/3/458/eurusd-...ari-uk-ltd.png

http://charts.mql5.com/3/458/eurjpy-...ari-uk-ltd.png
Opened 3 more trades and I am maxed out. Will see how things will work out.

http://charts.mql5.com/3/462/euraud-...ari-uk-ltd.png

http://charts.mql5.com/3/462/audchf-...ari-uk-ltd.png

http://charts.mql5.com/3/462/audusd-...ari-uk-ltd.png
I already reduced overall used leverage by decreasing position size and widening stops. So far had 4 losers and only one hit original stop.
Both position size and stop size is important to protect equity.
Got stopped full stop on eur/usd and +40 pips on eur/jpy. eur/jpy and gbp/jpy was painful to watch fall of so many pips form some 250 to just 40 in one day. Nevertheless trends are still up and I would reenter eur/jpy if I have a signal. Some strong day against all of my positions. eur/aud, aud/chf and eur/usd might be reversing and I might have closed existing trades to reverse, however all pairs closed with wicks and price hit pretty close to my stops. I might give some time like one more day to see what's going on. In any case I am prepared to close these trades at loss and reverse even if my stops are not hit. aud/chf is almost giving signal to reverse but eur/aud not yet and they are correlated.
Just got up to check on my positions. I was stopped on Aud/UUsd for half original risk as I moved stop yesterday due to signal to move it. and got stopped on eur/aud and aud/chf. It might be reversal moves so I am waiting for the end of the day. I am not analizing anything just take signals and if I get those I will go in different direction to that I was stopped. Thinking too much some year and something ago prevented me from selling JPY a year + ago....
GBP/JPY is still running but they like to run stops and we are having news in half an hour so it remeins to be seen. eur/usd is also on the verge of giving reversal signal. Kind of sucks starting trading when pairs entered this whipsaw.
In any case I am going to react and take all signals.
Went short eur/usd and eur/aud and long aud/chf. gbp/jpy trades has survived so far.

http://charts.mql5.com/3/479/euraud-...ari-uk-ltd.png

http://charts.mql5.com/3/479/audchf-...ari-uk-ltd.png

http://charts.mql5.com/3/479/eurusd-...ari-uk-ltd.png
each trade risk always 1%.
Got stopped on GBP/JPY. few pips and retraced. so far neutral on this pair. went long Aud/USD as per signal.
The rest is running slightly under water so far.

http://charts.mql5.com/3/501/audusd-...ari-uk-ltd.png
Went short gbp/usd and eur/jpy. Maxed out on trades. will see how things go from here. ready to close any trade where I get signal to close even before stop hit.

http://charts.mql5.com/3/511/eurjpy-...ari-uk-ltd.png

http://charts.mql5.com/3/511/gbpusd-...ari-uk-ltd.png
Closed 4 trades at small losses on yesterday day close/ open and went long gbp/usd and gbp/jpy.

http://charts.mql5.com/3/526/gbpusd-...ari-uk-ltd.png

http://charts.mql5.com/3/526/gbpjpy-...ari-uk-ltd.png

Might close 2 other left trades at loss too depending upon how things will go today.

situation is of indecision and whipsaw. taking signals and closing when signal says so.
Had to close euréusd and euréjpy trades for around break even. signal is pairs are turning but not trigger to enter. went short audéusd.
3 trades are on. so far January has been bleeding and no moves to speak of. I am going to execute signals regardless. sooner or later I will get on some trends to ride.
MOve on last Friday of December had up to 5% floating without trends actually develop so I will be entering trades cutting losses and letting winners run.
http://charts.mql5.com/3/533/audusd-...i-uk-ltd-2.png
Holy Cow I haven't looked at all of your trades but certainly some are them are against the trend (2 pics post #14 for example). Also if you plan on going live one day i'd advise a more reduced demo account. instead of 50k have the demo more realistic to what you'd open your real account too, just helps with future mind set.
Enter Signature
Quoting CaptainLush
Holy Cow I haven't looked at all of your trades but certainly some are them are against the trend (2 pics post #14 for example). Also if you plan on going live one day i'd advise a more reduced demo account. instead of 50k have the demo more realistic to what you'd open your real account too, just helps with future mind set.
Hello Holy Cow and CaptainLush,
I'm a newbie, presently demo trading with Metatrader 5; I have just found out from a colleague about myfxbook.com to track records and generate stats (which works fine); however, I have also found out about Forex Factory Trade Explorer and would like to try it...

Regarding Metatrader, the ForexFactory Trade Explorer only appears to support version 4 (MT4 seems way more popular than MT5 at this point in time);

My question is:
Does any one know if it is possible to link Metatrader 5 with Forex Factory's Trade Explorer?

Thank-you very much guys,
RavingEagle
Hello Guys, I am trading certain strategy which was given to me by another trader who has been trading it for years. So, I am following signals with indicators he gave me. cause it is not my strategy I am not showing all things here but I am trying to be consistent. I traded it a year ago for 8 months live however due to taking speculative trades against the strategy, over leveraging, not taking some signals and failure to close trades at profit I lost 15%.
I am currently trying to be consistent and see what will happen within at least 6 months.

Closed reversed many pairs again took small losses and currently running:

http://charts.mql5.com/3/567/euraud-...ari-uk-ltd.png

http://charts.mql5.com/3/567/audusd-...ari-uk-ltd.png

http://charts.mql5.com/3/567/eurjpy-...ari-uk-ltd.png

http://charts.mql5.com/3/567/gbpusd-...ari-uk-ltd.png
Ravineagle, i think you should go to myfxbook. They must have section where they explain how to connect MT4 and I think MT5 now too.
Should not be a problem.

Quoting RavingEagle
{quote} Hello Holy Cow and CaptainLush, I'm a newbie, presently demo trading with Metatrader 5; I have just found out from a colleague about myfxbook.com to track records and generate stats (which works fine); however, I have also found out about Forex Factory Trade Explorer and would like to try it... Regarding Metatrader, the ForexFactory Trade Explorer only appears to support version 4 (MT4 seems way more popular than MT5 at this point in time); My question is: Does any one know if it is possible to link Metatrader 5 with Forex Factory's Trade...
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